Northeast Asia
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South Korea’s sustainable financing efforts were given a boost this week, after Lotte Property and Development Co sold a $300m bond. -
Dexin China Holdings Co found limited interest for its debut dollar bond, despite paying a generous yield to get the deal done.
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China Lesso Group Holdings has mandated nine banks for a $900m loan.
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UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.
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Sino-Ocean Group Holding, a Chinese investment company that focuses on the property market, took advantage of the positive backdrop on Monday to seal a $600m bond.
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LG Display has hit the market with a convertible bond of up to $700m, according to a term sheet seen by GlobalCapital Asia.
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Shinhan Financial Group has deepened its sustainable funding pool, raising $500m from a bank capital deal that was appealing to investors.
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Shanghai-based SAIC-GMAC, an auto finance company owned by SAIC Motor Corp and General Motors Company, is planning to return to the auto loan ABS market next month with a Rmb10bn ($1.45bn) three-tranche deal.
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Malaysia’s Maybank returned to the Taiwanese market on Monday to raise $850m from a Formosa bond.
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Chinese robotics company CloudMinds has taken its foot off the pedal for its New York Stock Exchange IPO, initially expected around this week, and is instead waiting for less volatile global capital markets, according to sources close to the deal.
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Beijing Kunlun Tech is revisiting plans to list gay dating app Grindr after winning approval for the IPO from a US national security panel, according to a stock exchange filing from the parent on Monday.
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Banks in Japan might not be able to copy the structure of SMBC’s debut covered bond, resulting in a lack of uniformity in the market that may cause concern among investors. This stands in contrast to Korea, where banks are now exploring issuing in Korean won as there is a law in place that supports these instruments.
